Bleakley Financial Group LLC Invests $362,000 in EMCOR Group, Inc. (NYSE:EME)

Bleakley Financial Group LLC acquired a new position in EMCOR Group, Inc. (NYSE:EME) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 840 shares of the construction company’s stock, valued at approximately $362,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Matrix Trust Co purchased a new position in shares of EMCOR Group in the 2nd quarter worth about $26,000. Proffitt & Goodson Inc. purchased a new stake in EMCOR Group during the 2nd quarter valued at about $27,000. Innealta Capital LLC purchased a new stake in EMCOR Group during the 2nd quarter valued at about $29,000. ORG Partners LLC bought a new position in EMCOR Group during the 2nd quarter valued at approximately $31,000. Finally, Independence Bank of Kentucky bought a new position in EMCOR Group during the 1st quarter valued at approximately $33,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the transaction, the director now owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.26% of the company’s stock.

EMCOR Group Price Performance

EME opened at $447.97 on Wednesday. EMCOR Group, Inc. has a one year low of $191.50 and a one year high of $456.16. The firm has a market capitalization of $21.05 billion, a price-to-earnings ratio of 29.55 and a beta of 1.07. The business has a 50 day simple moving average of $407.64 and a two-hundred day simple moving average of $382.03.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $1.49. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the prior year, the company earned $2.95 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Tuesday, October 15th. EMCOR Group’s dividend payout ratio is currently 6.60%.

Analyst Upgrades and Downgrades

EME has been the subject of a number of recent analyst reports. DA Davidson upped their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th.

EMCOR Group Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.